Kakao M has issued a statement in response to Spotify's claims regarding the termination of their global licensing agreement. Previously, Spotify made an official statement explaining why hundreds of K-pop songs suddenly disappeared from the platform.
On March 1, Spotify stated that despite its best efforts over the past year and a half, the company was unsuccessful in renewing their global licensing agreement with Kakao M, which led to the deletion of all music distributed by major Korean labels.
However, that same morning, Kakao M replied with a statement of his own, stating that Spotify had chosen not to renew their agreement, even after a request from Kakao M.
The company also clarified that it is still in the process of negotiating whether its music catalog will be available on the South Korean version of Spotify - and that the expiration of their global license agreement is entirely separate and unrelated. Spotify also backed up this particular claim in its own statement earlier in the day.
“Unrelated to our pre-existing global licensing agreement with Spotify, Kakao M has been in separate negotiations with Spotify regarding a domestic contract for the supply of music,” said Kakao M. “Regardless of the domestic contract, which we are still negotiating, we accept separate notice of the expiration of our licenses on February 28th, and we are requesting an extension of our existing global contracts. "
"Due to Spotify's policy that they must continue domestic and global contracts at the same time, our current global contracts have expired," they continued. "We are continuing our negotiations on the supply of music." /dreamers.id
